# Table 7: KAOPEN Gating by Instrument Type

| Variable | fdi_assets | fdi_liab | port_eq_assets | debt_assets | debt_liab | fx_reserves |
|:---|---:|---:|---:|---:|---:|---:|
| Z_1 | 73.2973 | 56.3366 | -147.6991 | -31.3959 | 59.5975 | 64.2154*** |
| | (246.3426) | (242.5540) | (106.4243) | (123.6848) | (120.8596) | (18.5686) |
| Z_2 | -1.3875 | 8.3446 | 26.6684 | 16.2073 | -3.0655 | -7.2697** |
| | (37.6333) | (37.0545) | (16.2155) | (18.8640) | (18.4156) | (2.8338) |
| Z_3 | -0.0335 | -0.6413 | -1.1461* | -0.8824 | 0.0374 | 0.2322** |
| | (1.5706) | (1.5464) | (0.6725) | (0.7836) | (0.7636) | (0.1179) |
| Z_1_x_kaopen | 43.4200 | 36.7229 | -73.8735* | -23.6799 | -15.7749 | 0.5397 |
| | (93.7911) | (92.3486) | (42.6089) | (48.7901) | (48.4981) | (7.2433) |
| Z_2_x_kaopen | -8.0360 | -7.8575 | 12.3136* | 3.5970 | 1.9556 | -0.2784 |
| | (14.3312) | (14.1108) | (6.5058) | (7.4513) | (7.4049) | (1.1064) |
| Z_3_x_kaopen | 0.3768 | 0.3968 | -0.5272** | -0.1357 | -0.0620 | 0.0168 |
| | (0.5914) | (0.5823) | (0.2683) | (0.3074) | (0.3054) | (0.0456) |
|:---|---:|---:|---:|---:|---:|---:|
| Dep var | fdi_assets_gdp | fdi_liab_gdp | port_eq_assets_gdp | debt_assets_gdp | debt_liab_gdp | fx_reserves_gdp |
| N | 4540 | 4540 | 4528 | 4540 | 4540 | 4540 |
| R² | -0.0108 | 0.0086 | 0.0523 | 0.0037 | 0.0091 | 0.0752 |
| Countries | 164 | 164 | 164 | 164 | 164 | 164 |

*Panel GLS with AR(1) errors. Standard errors in parentheses.*
*\*p<0.1, \*\*p<0.05, \*\*\*p<0.01*